Questions and Answers
What is the primary purpose of a SWOT analysis?
To identify the internal and external factors that are favorable and unfavorable to achieving business objectives
Which category of a SWOT analysis focuses on characteristics that place the business at a disadvantage relative to others?
Weaknesses
What are the elements in the environment that could cause trouble for the business or project, according to a SWOT analysis?
Threats
Which characteristics do the strengths and weakness categories in a SWOT analysis primarily focus on?
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In a SWOT analysis, what do weaknesses refer to?
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Which of the following best describes strengths in a SWOT analysis?
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What is the main characteristic of opportunities in a SWOT analysis?
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What do threats represent in a SWOT analysis?
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What does SWOT stand for?
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What is the purpose of identifying SWOTs in a business context?
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Study Notes
SWOT Analysis Overview
- The primary purpose of a SWOT analysis is to identify and evaluate the internal and external factors that can impact a business or project.
Understanding SWOT Components
- The weaknesses category focuses on characteristics that place the business at a disadvantage relative to others.
- Threats refer to the elements in the environment that could cause trouble for the business or project.
Strengths and Weaknesses
- The strengths and weaknesses categories primarily focus on internal characteristics of the business.
- Weaknesses refer to the internal characteristics that put the business at a disadvantage.
- Strengths refer to the internal characteristics that give the business an advantage.
Opportunities and Threats
- Opportunities are characterized by external factors that the business can leverage to its advantage.
- Threats represent external factors that could harm the business.
SWOT Definition
- SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.
Purpose of SWOT Analysis
- The purpose of identifying SWOTs in a business context is to identify and evaluate the internal and external factors that can impact a business or project.
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Description
Test your knowledge of SWOT analysis, a strategic planning technique used to identify strengths, weaknesses, opportunities, and threats related to business competition or project planning. Explore how it helps specify business objectives and identify internal and external factors affecting their achievement.
